S & P Agreement for subdivided buildings such as condominium, flats, apartment and townhouse must state completion within 36 months.

Buyers are advised to obtain free brochures from the developer for full information on the project including particulars of the licence, permit, etc.

Land Title

Separate individual title;

Strata title

Status of Land

Freehold

99 years lease

Malay Reserve

Obtain Information from Housing Developer

Free brochure on the housing project

Note specifications on building materials

Sample sale & purchase agreement

Building area

Location of house to be constructed

Expected date of completion

Note condition of site such as hilly, former mining land or swampy land

Reference No. of approval of building plans by local authorities.

Rights and Interest of Buyers under Sale and Purchase Agreement

The sale & purchase agreement must comply with the standard agreement as in Schedule G & H of the Housing Developers (Control & Licensing) Regulations 1989.

First Payment

The buyer must sign the S & P Agreement at the time of the first payment of 10% of the purchase price to the developer. Ensure that the date of the 1st payment and the date of the S & P Agreement having been signed.

Architect’s Certificate

Every notice requesting for payment shall be supported by a certificate signed by the developer’s architect or qualified engineer.

Interest on Late Payment

If the buyer or end financier of the buyer fails to settle the instalment within 14 days after receipt of the written notice, the buyer shall be liable to pay interest to the developer calculated from day to day at the rate of 10% p.a. on the unpaid instalment.

Determination of Agreement

You are reminded that failure to pay any of the instalments and interest due for any period exceeding 28 days, the developer may terminate the S & P Agreement. The Developer shall send notice in writing by A.R. Registered Post of his intention to terminate S & P Agreement.

Maintenance & Management Fee

The buyer shall contribute towards maintenance charges such as refuse removal, upkeep of public drains and grass-cutting on the road reserves as from the date of delivery of vacant possession for landed property and as from the date of issuance of strata titles and the formation of the Management Corporation.

Payment of Quit Rent, Assessment, Etc.

As from the date of S & P Agreement, the buyer shall be responsible for the payment of quit rent, rates, assessment and other charges on the subject property.

Vacant possession of the building with water and electricity ready for connection must be delivered within 24 calendar months from the date of the agreement (for landed property) and 36 months (for subdivided buildings)

Application for Certificate of Fitness for Occupation

At the time of delivery of vacant possession, the developer must have applied for CFO from the relevant authorities (Form E of UBBL)

Entry into Occupation

The buyer is only entitled to enter into occupation of the property upon issuance of CFO by the relevant authorities.
Renovations may only be carried out upon issuance of CFO and approval of the plans by the relevant authorities.

Payment of Damages

If the developer fails to hand over vacant possession of the building/parcel within the prescribed time (24 months from the date of the S & P Agreement for landed properties and 36 months fro sub-divided properties), the developer shall pay immediately to the buyer liquidated damages to be calculated from day to day at the rate of 10% p.a. of the purchase price.

Claim for Damages & Time Limit

The buyer may claim damages from the developer before the expiry of 6 years from the date of vacant possession in accordance with the Limitation Act 1953.

Defect Liability Period

With effect from 1 August 1996, the defect liability period shall be 18 months from the date of delivery of vacant possession.

Formation of Management Corporation

A Management Corporation shall be formed by the buyers upon issuance of separate strata titles for the parcels and transfer into the buyers’ names.
Among other functions, the Management Corporation shall be responsible to insure and to maintain the building.

This section is a division under the Ministry of Housing & Local Government and is responsible fro the implementation and enforcement of the provisions of the housing Developers’ (Control & Licensing) Act 1966 (Act 118).

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About Us

CAREY REAL ESTATE, registered with the Board of Valuers, Appraisers & Estate Agents Malaysia, was established in 1983, and is based in the Malaysian capital of Kuala Lumpur. Further to this, we also have branch offices in Ampang-Selangor, Kota Kinabalu-Sabah, and Georgetown-Penang.

Renting & Selling Properties

Projects Sales on Behalf of Developers

Property Consultations

Property Legal Consultations

Contact Us

CAREY REAL ESTATE (PG) SDN BHD

29, Lebuh Melaka,
10400 Georgetown
Penang
Malaysia

(604) 210 6366
(604) 210 6363

CAUTION

You are advised to check with the Registrar of the Board of Valuers, Appraisers and Estate Agents Malaysia, on the credentials of
person(s) / company(s) / websites, who solicit fees for the introduction, rent and/or sale of properties, prior to proceeding with any property
transactions. Contact Registrar Board of Valuers, Appraisers and Estate Agents Malaysia Tel : +603 - 2288 8815 / E-mail : lppeh@po.jaring.my